So, i want to buy one, my country has currency controls and on average sending money abroad has 6% overhead.
i'm thinking btcpoint or genesis1, i got a few questions.
Do i need to open a company, hire an accountant. etc. etc. ?
It's necesary some kind of license? what do people's shops need to run regular atms?
Does anyone can comment on their experience with this?
Topic: Bitcoin ATM profitability / ROI calculator (Read 2608 times)
Think its a bit location based but good calculator what if the fees are different on another merchant?
Although as has been pointed out convenience has a value to consumers bitcoin ATMs cannot be a viable solution for the future success of the crypto at least in the long term since actual senders of BTC will be aware that merchant adoption will lead to the greatest utility and convenience
Greater merchant adoption will make it so ATMs cannot offer as large of a discount for converting BTC to fiat, however merchant adoption would not allow a way for people to convert fiat to BTC. Another plus to using bitcoin ATMs that has not been mentioned is privacy, and the lack of a need to jump through a bunch of hoops to comply with the AML checks (verification) at exchanges. The most you have to do to buy BTC at most ATMs is let it scan your ID and your handprint (not all will do this). This is much simpler then sending a bunch of documents to an exchange that may or may not keep your information safe.
Should balance the transaction fees and cost! Otherwise people is unwilling to use your machine if charge high fee or you make a loss if you charge less.
I think that is all based on the location and how badly you need the money (or BTC in this case). Take for instance an ATM in a casino or strip club...they charge a huge percentage in fees, but they have no shortage of people willing to use the ATMs because the people need the money right then and there.
As soon as BTC becomes something that you absolutely NEED for something, the fee will become less relevant.
Although as has been pointed out convenience has a value to consumers bitcoin ATMs cannot be a viable solution for the future success of the crypto at least in the long term since actual senders of BTC will be aware that merchant adoption will lead to the greatest utility and convenience
Should balance the transaction fees and cost! Otherwise people is unwilling to use your machine if charge high fee or you make a loss if you charge less.
fee's or discounts are irrelevant with bitcoin.
for instance i can find the most expensive exchange and tell people that is the valuation for them to buy bitcoins. and they would see that as fair value as that is the exchanges price (not showing fee on top).. yet actually exchange on a cheaper one. where i keep the difference in the middle.
its a known standard that bitcoin prices are VARIABLE between different exchanges AND VOLATILE between each hour so a 5% difference is acceptable. infact as i said in last paragraph. the customer doesnt even really need to be told what the fee was, especialy when having the convenience of cold hard bank notes<->bitcoin.
I've added to my site the Bitcoin ATM ROI / profitability calculator.
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
Forget ROI, I'm yet to understand why Bitcoin ATM is required in the first place !!! Why some people are trying so hard to take an online system offline ? Is not being credited at the bank account and getting FIAT out from Bank's ATM easier ?
It's called buying Bitcoin for cash, can't get any easier than an ATM! Don't have to register on an exchange, or mess around with doing bank transfers or arranging meets on LBC. If you need Bitcoin and have an ATM in your area you just go down to it, stuff your cash in it, and voila!
Get it now??
I've added to my site the Bitcoin ATM ROI / profitability calculator.
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
Forget ROI, I'm yet to understand why Bitcoin ATM is required in the first place !!! Why some people are trying so hard to take an online system offline ? Is not being credited at the bank account and getting FIAT out from Bank's ATM easier ?
Should balance the transaction fees and cost! Otherwise people is unwilling to use your machine if charge high fee or you make a loss if you charge less.
fee's or discounts are irrelevant with bitcoin.
for instance i can find the most expensive exchange and tell people that is the valuation for them to buy bitcoins. and they would see that as fair value as that is the exchanges price (not showing fee on top).. yet actually exchange on a cheaper one. where i keep the difference in the middle.
its a known standard that bitcoin prices are VARIABLE between different exchanges AND VOLATILE between each hour so a 5% difference is acceptable. infact as i said in last paragraph. the customer doesnt even really need to be told what the fee was, especialy when having the convenience of cold hard bank notes<->bitcoin.
Should balance the transaction fees and cost! Otherwise people is unwilling to use your machine if charge high fee or you make a loss if you charge less.
I've added to my site the Bitcoin ATM ROI / profitability calculator.
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
There are also several theoretical scenarios provided for how much you can earn with Bitcoin ATM.
Also tried to find as many references on the internet about real-life operation volume metrics as I could and provided several examples there.
Hope would be interesting to read and use the calculator if you like to start a Bitcoin ATM business.
Suggestions for improvements or and feedback is very welcome!
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